What interesting observation does Wood (1994) make about the effects of trade with developing countries on equality?
a. That trade with developing countries ensures the growth in wealth of the industrialized country as it makes wage costs cheaper and labour more efficient
b. That trade with developing countries actually creates inequality in the industrialized country by reducing demand for unskilled labour by more than 20%
c. That there is no rhyme or reason as to the effects of globalization on wealth and equality in either the developed or developing countries
d. That globalization always benefits the industrialized country and almost never the developing countries
b. That trade with developing countries actually creates inequality in the industrialized country by reducing demand for unskilled labour by more than 20%
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Using a perpetual inventory system, the entry to record the sale of merchandise on account includes a
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